Cashing out of BTC and Hostile Banks
Cashing out of BTC and Hostile Banks
Looking at options for changing Bitcoin to cash while in Cambodia. One possibility maybe is opening a “Euro Flex Account” with Acleda, trading BTC for EURO on the Binance exchange and withdrawing to bank. But - I heard talk of Cambodian banks being hostile to BTC and if they see a deposit from an exchange like Binance, red flags are raised and you get shutdown. Does anyone have any knowledge of cashing out of BTC, Acleda’s Euro Account, and the reported issue of red flags for banks? Thanks in advance.
The NBC issued a statement against cryptocurrencies as many scams/ponzis like Onecoin and forex trading were active during the bitcoin bullrun in 2017. As a result banks will not touch anything crypto related.
Use a bankaccount in your homecountry or look to trade in person. However the latter is risky, fake notes, robbery, etc.
Use a bankaccount in your homecountry or look to trade in person. However the latter is risky, fake notes, robbery, etc.
Cool. Invest in Bitcoin, boast daily about your gains and find it difficult as hell to actually get your money.
Thanks for the reply. Actually, this is for family in Cambodia. They only have Cambodian bank accounts and I don't want them trading in person for the reasons you mention. Ironically, I'm in China and have a Chinese bank account and it's easy to cash out of BTC as it is in most of the world using P2P exchanges providing escrow.Sashimi wrote: ↑Mon Jan 25, 2021 1:03 pmThe NBC issued a statement against cryptocurrencies as many scams/ponzis like Onecoin and forex trading were active during the bitcoin bullrun in 2017. As a result banks will not touch anything crypto related.
Use a bankaccount in your homecountry or look to trade in person. However the latter is risky, fake notes, robbery, etc.
Can you name a p2p exchange with escrow to buy crypto then cash out.
I regustered with swyftx and i can buy crypto but selling or anything else requires talking to a human being and im still waiting to talk to that elusive person.
Its all one big illusion.
I regustered with swyftx and i can buy crypto but selling or anything else requires talking to a human being and im still waiting to talk to that elusive person.
Its all one big illusion.
Easy? wrote: ↑Mon Jan 25, 2021 4:35 pmCan you name a p2p exchange with escrow to buy crypto then cash out.
I regustered with swyftx and i can buy crypto but selling or anything else requires talking to a human being and im still waiting to talk to that elusive person.
Its all one big illusion.
Can you talk more about ‘waiting to talk to that elusive person?’
What do you mean? What’s proving difficult?
Could you cash out and send it with some Chinese or other regional fintech app? Not sure if this can be done as China is not happy about money leaving the country.
I use a bank in my homecountry to process transactions. Usually by a broker but since Binance has support for it I could send/recieve directly to the exchange as well. My backup is a Thai account but those banks suck.
Maybe they can spend it at the local Ferrari / Lambo dealer in PP
I use a bank in my homecountry to process transactions. Usually by a broker but since Binance has support for it I could send/recieve directly to the exchange as well. My backup is a Thai account but those banks suck.
Maybe they can spend it at the local Ferrari / Lambo dealer in PP
I have only cashed out BTC and for that I used LocalBitcoins. But as far as I know it only deals in BTC. For trading crypto and P2P, I'm told Binance is the best exchange.Easy? wrote: ↑Mon Jan 25, 2021 4:35 pmCan you name a p2p exchange with escrow to buy crypto then cash out.
I regustered with swyftx and i can buy crypto but selling or anything else requires talking to a human being and im still waiting to talk to that elusive person.
Its all one big illusion.
Hi - right, it's difficult to get money out of China. I was able to use Localbitcoins - you can use Wechat or Alipay. But I'm using them locally. I'm in China and dealing P2P through Localbitcoins with others in China.Sashimi wrote: ↑Mon Jan 25, 2021 7:04 pmCould you cash out and send it with some Chinese or other regional fintech app? Not sure if this can be done as China is not happy about money leaving the country.
I use a bank in my homecountry to process transactions. Usually by a broker but since Binance has support for it I could send/recieve directly to the exchange as well. My backup is a Thai account but those banks suck.
Maybe they can spend it at the local Ferrari / Lambo dealer in PP
BTW - if you are into crypto investment/gambling (?), you might want to check out Fabian Vogelsteller's new project, Lukso. He's a former Ethereum dev - creator of the Ethereum browser Mist and Ethereum Wallet and proposed the ERC 20 and ERC 725 token standards.Easy? wrote: ↑Mon Jan 25, 2021 4:35 pmCan you name a p2p exchange with escrow to buy crypto then cash out.
I regustered with swyftx and i can buy crypto but selling or anything else requires talking to a human being and im still waiting to talk to that elusive person.
Its all one big illusion.
Just own stock in GBTC for your Bitcoin exposure. Assuming you have a brokerage account already that's the easy route. Of course you still need to transfer from your brokerage into your Cambodia bank if you want the cash.
You could also open a short position in GBTC if you think Bitcoin is going down, you have a brokerage account and you cannot cash out of your bitcoin here.
You could also open a short position in GBTC if you think Bitcoin is going down, you have a brokerage account and you cannot cash out of your bitcoin here.
"Those who can, do. Those who can't, teach. Those who can't teach, teach English."
Credit Jacked Camry & LTO
Credit Jacked Camry & LTO
I don't have a brokerage account but I will look into it - thanksGMJS-440 wrote: ↑Mon Jan 25, 2021 10:57 pmJust own stock in GBTC for your Bitcoin exposure. Assuming you have a brokerage account already that's the easy route. Of course you still need to transfer from your brokerage into your Cambodia bank if you want the cash.
You could also open a short position in GBTC if you think Bitcoin is going down, you have a brokerage account and you cannot cash out of your bitcoin here.
Btc is being pushed as the global currency but in reality is subject to all the different countries around the world specific regulations.
Crypto has been saddled with over 200 countries crypto laws.
Like a over loaded donkey withering to exhaustion, or worse, before our very eyes.
Crypto has been saddled with over 200 countries crypto laws.
Like a over loaded donkey withering to exhaustion, or worse, before our very eyes.
What you can do is open a bullion account in Singapore. Try Bullionstar. They accept bitcoin for gold. Can open an account remotely. Once you have gold you can keep it or cash out. Wire the money out.
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